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Market Fresh

It's summertime in Chicago! The lakefront and sidewalk cafes are full to bursting, and the energy level is high! The same is true at Argentum, especially when we mentor and advise interesting, innovative startups. We’ve continued our ongoing work with founders from the University of Chicago's College New Venture Challenge (CNVC) and Global New Venture Challenge, as well as with Techstars and Kellogg's VentureCat competition.


Some standouts:

·      Revenue positive, KindEd has developed a curriculum that promotes K-12 social media literacy. The program is so compelling that school administrators have been buying it outside of their typical purchase cycle.

·      Winner of the 2021 CNVC, Fillow was the first all-women's team to do so. Now, after several years developing their innovative period disc + applicator, they are ready to launch and are raising an angel round simultaneously.

·      It's been 6 years since Zenblen participated in the New Venture Challenge, and their custom smoothie kiosk is now a wonder to behold! With their slick kiosk completed, the team has turned its focus to marketing. We've signed on as an advisor as they prepare for scaling and raising their Series A.



In this issue, we're especially excited to share insights from the Harvard Business Review and the Wall Street Journal about how AI agents are changing the way people shop. We’ve also included useful problem-solving content from two of our long-time colleagues that we think you’ll find as helpful and thought-provoking as we have.

AI Agents Are Changing

How People Shop

During a job interview in the 1990s, I learned that if consumers tried generic pain relievers, the branded product team considered that customer lost forever. Why? Because generics are regulated identically to name brand products, which means store brand pain reliever is the exact same product.


A recent Harvard Business Review (HBR) article explored how AI agents are transforming shopping by instantly providing this kind of objective product comparison. Read about the key implications for marketers, and steps you can take now to prepare your brand for this shift.


I've shared my thoughts on all of this here, along with the HBR article and a related Wall Street Journal article.

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The Future of Customer Service

Melissa Copeland, founder of Blue Orbit Consulting, is one of the country’s leading call center experts. Her article, YouTube, Google, and the Future of Customer Service, is about using a multi-pronged customer support strategy to meet customers where they are when they need help.


She points out that we need to think of customer support more holistically, beyond just websites and customer support teams. This can include using chatbots, YouTube, and even, where practical, live video-based support.


Read all about it!

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How Many Survey Responses Are Enough?

Many of us learned in stats class that n=30 is the absolute minimum for statistical significance. But small sample sizes come with plenty of caveats, including high error rates and a limited to non-existent ability to segment responses.


To help explore the tradeoffs between sample size and error rate, one of my go-to research experts, Joe Hopper from Versta Research, has created a terrific interactive graph. It's a great tool, and I wanted to help disseminate it more broadly.

 

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Thank you!

We appreciate your continued referrals and are always excited to meet new businesses that might need our marketing strategy assistance.


To learn more about Argentum, visit our website, and please share this newsletter with anyone who might find the content useful.


Best,


Argentum Strategy Group
312-337-7730
2024 N. Howe Street, Suite 300, Chicago, IL 60614
argentumstrategy.com
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